Now Reading: Sensex, Nifty edge up in quiet trade; FPI buying offsets US yields
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Sensex, Nifty edge up in quiet trade; FPI buying offsets US yields
Sensex, Nifty edge up in quiet trade; FPI buying offsets US yields
Indian equities opened higher but stayed range-bound through noon. The Nifty reclaimed 24,600 and the Sensex gained about 100 points, driven by renewed foreign portfolio investor buying and positive Asian cues. Gains…
The Story in Brief
Indian equities opened higher but stayed range-bound through noon. The Nifty reclaimed 24,600 and the Sensex gained about 100 points, driven by renewed foreign portfolio investor buying and positive Asian cues. Gains were limited by elevated US bond yields and geopolitical risks.
Sector rotation continued: the Nifty PSU Bank index fell 0.83 per cent, while Oil and Gas and Realty also declined. On the upside, Nifty Metal rose 0.34 per cent, IT gained 0.33 per cent, and Pharma advanced 0.24 per cent. The new Closing Auction Session on the NSE remains under close watch.
The Indian Opinion
The market narrative pins the muted rally on 'positive Asian cues' and 'renewed FPI buying', but those same cues haven't pushed the Nifty past 24,650 convincingly. The real test is whether foreign inflows survive Friday's US inflation print or if they are merely positioning ahead of it. Domestic investors should watch the trade-weighted dollar index, not just the Nifty level. If the dollar stays strong, FPI flows will reverse as quickly as they appeared.
Sources (2): thehindubusinessline.com, ndtvprofit.com
This story was synthesised by AI from the 2 sources linked above.
